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re: Payroll Tax Should Be Eliminated Permanetly
Posted on 8/8/20 at 7:54 pm to Catchfalaya
Posted on 8/8/20 at 7:54 pm to Catchfalaya
No I don’t and I work in a Title I School so I understand the benefits of what SS Medicare/Medicaid provide along with how our military is and LE agencies are funded by taxes.
This post was edited on 8/8/20 at 7:56 pm
Posted on 8/8/20 at 8:26 pm to sms151t
What you don’t understand is your employer pays a match on your SS and Med. So if you have $1000 withheld from your check annually in SS and Med the employer redeems that $1000 on your behalf to the IRS, and then pays a Tax (Added expense) of $1000 for a total redemption of $2000.00. That’s just you as well for your other teachers there could be 50 of them with comparable salaries so the employer redeems $50,000 to IRS and then pays an additional $50,000 for a tax, so that’s a total of $100,000.00. I think the employer could give you a fat pay raise if they didn’t have to pay a tax. Or you could save the money on your own, and not worry about uncle same giving it to you after 62 or whatever the age is. Hell you might not even live to 62 before you see those payments!
Posted on 8/8/20 at 10:36 pm to sms151t
quote:
No I don’t and I work in a Title I School so I understand the benefits of what SS Medicare/Medicaid provide along with how our military is and LE agencies are funded by taxes
The taxes for all of these things should be eliminated entirely
Your mistake is in thinking that there's some weird requirement to have separate taxes for separate things. But that's silly. It's just a mechanism for the government to tax you more. By separating out all of these theoretically important hacks for kids while still nailing you for the general fund. If the federal government is going to tax you there should be one vehicle and that should be it. Same for the state. There is no real reason to have multiple Avenues of Taxation
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